Two parts of the SAVE plan will be on pause until the cases are fully litigated. The Biden administration cannot cancel any more federal student debt for borrowers enrolled in the SAVE plan. The Biden administration will also be blocked from implementing further provisions of the SAVE plan. SAVE is one of Biden’s key student loan policiesAfter the Supreme Court knocked down President Joe Biden’s signature student loan forgiveness program last summer, his administration launched the SAVE plan. Every additional $1,000 borrowed above that amount would add one year of monthly payments to the required time a borrower must pay.

Source: CNN June 25, 2024 15:56 UTC